Nice to see that there is a PnF thread on T2W also! On the Internet you see rarely a PnF discussion. The question remains why? Isn't it useful or is it so strange for people to look at '0' and 'x' charts because they have never seen it before and are anxious to use it, may be it seems that it has some magic around it? Or isn't it possible to make a living out of PnF charts?

I've used PnF charts for some years now, but not in the way as described by jeremy duplessis. After I have read his book last year I decided to put some effort in it to go and trade his method. From a hindsight it seems very easy, especially because of the rules are so clear. But I find it very difficult to use it with day trading!

So I was wondering if there are other people using the PnF charts to day trade? Is it possible to make a living using day trading PnF techniques?

On the longer timeframes it is a very handy tool to help you trading, but for day trading there are some pitfalls. 45% lines are most of the times unusable, you have to use less stall lines. Trend lines are rarely broken by a nice pattern, what makes it difficult to tell if the brake is a good one or a false one... Other question is, where to leave the market, do you wait for a break of the trend line that you can't trust because it isn't a 45% line. But you don't want to give too much profits back to the market, but you have to give the market enough breath to bread...

As you can see in this picture:
with some hindsight you can easily point your entry points. It looks very easy, but when you look at the second trade entry (blue arrow) you wonder where to exit? Is that at the triple bottom break or do you wait till the trend line you don't trust is broken? Then look at the last trend line drawn, you see a long position which is entered on a 5 top break (which is a very dangers pattern, it mostly points at weakness). See that the break is very far from the trend line! And then look and see that this position had the same profit 18 bars ago as it has at the current time, so you gave away a lot of profit and with it a lot of risk, because when it tests the trend line (which you probably would have drawn after te test of it) it could go far down. As I said before, the 5 top break points at weakness in the market...

I hope that there are other people who try and make some money with day trading using PnF charts who would like to discuss the above points made. And help each other to address the PnF topic, while there aren't so many people around the Internet who do. And maybe later on join together in a chat room to do some real life trading setup discus sings together? But let’s start at discussing some strategies.